Las Vegas Sands ( NYSE: LVS ) posted narrow misses on profit expectations on Wednesday as pandemic restrictions continue to impact results.
The casino operator posted a $0.27 loss per share alongside $1.01B in revenue for the third quarter. Analysts had anticipated a $0.25 loss and $1.01B, respectively. While operating losses were cut to $177M from $316M in the prior year quarter, CEO Robert Goldstein said that pandemic-driven travel restrictions continued to impact the results.
Nonetheless, Goldstein remained optimistic that regulations will be eased in coming quarters.
“We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macao," he said. "We remain confident in the recovery of travel and tourism spending across our markets. Demand from customers who have been able to visit remains robust.
Elsewhere, total debt outstanding for the casino operator rose to $15.27B from $14.5B in the year prior.
Shares of Las Vegas Sands ( LVS ) slid 0.84% in Wednesday’s extended trading. Read more on the latest COVID policy moves in Macau .
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Las Vegas Sands says travel restrictions continue to hit financial results